Same problem - see 'Flashing yellow still works.......'. Flashed all night, no connection.
3.53 always worked great, but should I do the Uninstall again (which BTW, worked great, no trace of WinMX anywhere after the Uninstall. That in and of itself is truly outstanding) and try installing the newly patched 3.54 beta on WIN98FE?
After the uninstall, is there anything else that should be removed, like old Host files, etc.?